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- 1 Bitcoin price analysis suggests that the short-term correction is about to end and the price could rebound soon.
- 2 BTC price rose 4.77% in the previous trading session, showing signs of bullishness.
- 3 The Bitcoin cryptocurrency price bounced from the 100-Day EMA level as buyers target the $45K mark.
Bitcoin price analysis suggests that the price will move with positive momentum in upcoming sessions. It rose 4.7% in the previous session breaking above the 50-Day EMA level and hit the $41K mark, which triggered the positive momentum in the price.
BTC price began the year on a positive note and Bitcoin ETF also fills a positive sentiment in it. In the past few weeks, the BTC crypto price faced a shortage of correction.
Recently, buyers regained control of the $40000 psychological zone and pushed the range upward. It shows that BTC buyers are back on track and ready to reach new highs.
The uptrend in the crypto continues and the price is successfully staying above the 50 and 200-Day EMAs level. The chart pattern of Bitcoin is bullish but the buyers need to maintain the recent gains and protect the $41000 support level.
To achieve higher highs, bulls need to follow up and stay above the higher range. If the price loses momentum and goes downwards, the $40000 level might act as immediate support. Currently, the BTC/USD pair is trading at $41859 with an intraday increase of 0.10% as per the trading view data.
Will Bitcoin Price Keep the Recent Gains?
BTC price trend, which started the year on a high note and benefited from the Bitcoin ETF approval. Over the past weeks, the BTC crypto price faced a minor correction.
Recently, buyers regained control of the $40000 psychological zone and pushed the range upward. It shows that BTC buyers are back on track and ready to reach new highs.
On the upside, the next clear resistance is at $43500. Gradually and consistently, Bitcoin is moving toward it. It will be fascinating to see how the price may behave in the coming weeks. The analysis suggests this crypto is in an uptrend, so, it is advisable to look for buy-on-dips opportunities.
BTC’s price is aiming for the $45000 level, which is a critical obstacle because it was recently reached and is a strong demand zone. If the positive momentum persists in BTC and buyers manage to drive the price above $45K, it will increase the likelihood of reaching the price to $50K.
Conclusion
Bitcoin price prediction suggests the bearishness in the price is finally over because the price showed signs of range extension. The trend is positive, so investors should look for better opportunities until the price holds $41000 support.
Technical levels
Resistance Levels: $43500 and $45000.
Support Levels: $41000 and $40226.
Disclaimer
This article is for informational purposes only and does not provide any financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your own research before making any financial decisions
Adarsh Singh is a true connoisseur of Defi and Blockchain technologies, who left his job at a “Big 4” multinational finance firm to pursue crypto and NFT trading full-time. He has a strong background in finance, with MBA from a prestigious B-school. He delves deep into these innovative fields, unraveling their intricacies. Uncovering hidden gems, be it coins, tokens or NFTs, is his expertise. NFTs drive deep interest for him, and his creative analysis of NFTs opens up engaging narratives. He strives to bring decentralized digital assets accessible to the masses.
